Green Globe International Inc (GGII)

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Press Release Source: Green Globe International, Inc.


Green Globe International, Inc. Files 14C Information Statement Reporting Changes to Articles of Incorporation to Prepare for Continued Worldwide Expansion of the Green Globe Brand
Thursday February 12, 10:22 am ET


MURRIETA, CA--(MARKET WIRE)--Feb 12, 2009 -- Green Globe International, Inc. (OTC BB:GGLB.OB - News), the worldwide owner of the Green Globe brand, today filed a Schedule 14C Information Statement with the Securities and Exchange Commission reporting majority shareholder approval of a proposal to restructure the company's common stock. The change was initiated by the Board of Directors for the purpose of facilitating the continued expansion of the Green Globe program and brand in international markets.
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"The business opportunities for Green Globe International continue to grow, and the Board strongly believes that the company must be prepared to reposition itself in the public markets," commented Steven R. Peacock, CEO and managing director of Green Globe International, Inc. "The restructure will allow us to present Green Globe as an opportunity for institutional investors and to make use of additional financing options that are designed to bring necessary resources into the company while minimizing dilution for holders of the company's common stock."

The information statement filed by the company reported that a special meeting of shareholders was held on February 11, 2009 at the company's corporate offices. At that meeting, principal shareholders, who collectively represented 52% of the common stock outstanding as February 3, 2009, were either present or voted in absentia.

At the meeting a proposal was put forth to amend the company's Articles of Incorporation to effect a reverse split of the company's common stock at a ratio of up to one-for-two thousand during the nine month period following the date of the special meeting of shareholders. All of the principal shareholders represented at the meeting voted in favor of the proposal. Accordingly, no proxies will be solicited regarding the proposals.

Green Globe International's strategy for continued expansion of the Green Globe program and brand includes the planned acquisition of its certification partner, Green Certifications, Inc. Under an alliance agreement, Green Certifications has begun marketing a dual certification program and has signed up new clients in the United States and the Caribbean. Green Globe recently received its first revenues from this certification program.

In addition to the growth of revenues from the certification program, Green Globe International expects to offer consulting services through partnerships and affiliations that will deliver the brand to customers throughout travel, tourism, hospitality and a variety of new market sectors. Customers for these consulting services range from individual businesses and corporations to governments, both local and at a national level.

"The size and scope of our plans for the Green Globe brand not only represent additional revenue streams and value for the company, but they will clearly also provide a tremendous amount of awareness and name recognition for Green Globe in regions where the program's prestige and long history is relatively unknown. Restructuring the common stock will help us to capitalize on increased awareness in the U.S. public markets and attract a broader audience, including, potentially, institutional investors," Mr. Peacock said.

"Going green is in no way a fleeting movement. It is becoming more of an expectation every day, and as a greater number of companies and organizations seek a clear pathway to demonstrate their commitment to environmental responsibility, Green Globe International plans to offer programs under the Green Globe brand to assist them in their efforts and to highlight their good works. As we work to respond to this demand, we also need to be prepared to present the public company to the appropriate market audience, and the restructure is expected to help us in these efforts," Mr. Peacock added.

The Green Globe brand and program trace their roots back to the United Nations Rio de Janeiro Earth Summit in 1992, where 182 Heads of State endorsed the Agenda 21 principles of Sustainable Development.

Green Globe International, an affiliate member of the United Nations World Tourism Organization (UNWTO), has endorsed the efforts of the United Nations Foundation, Rainforest Alliance, the United Nations Environment Programme (UNEP) and the UNWTO in launching the Global Sustainable Tourism Criteria (GSTC).

Green Globe International (www.greenglobeint.com) encourages all shareholders and others interested in following the progress of the company to subscribe to receive email alerts whenever new information is made public. To subscribe, please visit http://www.greenglobeint.com/stayconnected/email/.

About Green Globe International, Inc.

Green Globe International, Inc. is the majority owner of Green Globe, Ltd., a British company that owns the Green Globe brand, the premier international brand for sustainable travel, tourism and related green businesses. Green Globe's worldwide network extends across nearly 50 countries. Green Globe International has been admitted as an affiliate member of the United Nations World Tourism Organization. The World Travel & Tourism Council (WTTC), the business leaders' forum for the travel and tourism industry, is a 5% common stock owner of Green Globe International. For more information on Green Globe International, please visit www.greenglobeint.com.

Safe Harbor Statement

This release contains forward-looking statements with respect to the results of operations and business of Green Globe International, Inc., which involves risks and uncertainties. The Company's actual future results could materially differ from those discussed. The Company intends that such statements about the Company's future expectations, including future revenues and earnings, and all other forward-looking statements be subject to the "Safe Harbors" provision of the Private Securities Litigation Reform Act of 1995.



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